U.S. labor market tightening, productivity still weak

The number of Americans filing for unemployment benefits fell more than expected last week, pointing to tightening labor market conditions that should support the economy this year. Other data on Thursday showed worker productivity slowing in the fourth quarter, which economists said suggested companies would need to keep hiring to increase output. Initial claims for state unemployment benefits fell 14,000 to a seasonally adjusted 246,000 for the week ended Jan. 28, the Labor Department said.